I think a game like this could be a nice project to work on, maybe even with a co-op campaign, if you can manage to come up with a nice story and/ or good characters.
Well the multiplayer part was the most fun so one should start from there. As it introduced buildings and a base I'd shift the focus more towards a Battlezone <-> Giants fusion...
What also might work is a merge with one of my favorites:
Sacrifice. The art styles of both games also slightly match I guess...
It was one of the first games to feature DOT3 Bump-Mapping which was badass back in the days...
